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DTE Energy reports first quarter 2006 earnings up 11 percent;
maintains 2006 earnings guidance
     Electric Utility:
 Gas Utility:
 Power and Industrial Projects:




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Unconventional Gas Production:
 Fuel Transportation and Marketing:
 Corporate & Other:
 2006 Outlook
   Conference Call and Webcast




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Members of the Media  For Further Information:Lorie N. Kessler
    
    Scott Simons(313) 235-8807
    
    (313) 235-8808Analysts  For Further Information:Marc Siwak
    
    Dan Miner(313) 235-8030
    
    (313) 235-8030




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DTE Energy Company  Consolidated Statement of Operations (unaudited)
 Three Months EndedMarch 31(in Millions, Except per Share Amounts)
    
    2006
    
    
    2005Operating Revenues
    
    $
    2,635
    
    
    $
    2,309Operating ExpensesFuel, purchased power and gas
    
    
    1,060
    
    
    
    969Operation and maintenance
    
    
    1,021
    
    
    
    893Depreciation, depletion and amortization
    
    
    225
    
    
    
    208Taxes other than income
    
    
    92
    
    
    
    91Gains on sale of assets, net (1)
    
    
    (5
    )
    
    
    (76
    )2,393
    
    
    
    2,085Operating Income
    
    
    242
    
    
    
    224Other (Income) and DeductionsInterest expense
    
    
    133
    
    
    
    128Interest income
    
    
    (12
    )
    
    
    (14
    )Other income
    
    
    (12
    )
    
    
    (12
    )Other expenses
    
    
    10
    
    
    
    11119
    
    
    
    113Income (Loss) Before Income Taxes and Minority
Interest
    
    
    123
    
    
    
    111Income Tax Provision
    
    
    58
    
    
    
    38Minority Interest (2)
    
    
    (71
    )
    
    
    (53
    )Income from Continuing Operations
    
    
    136
    
    
    
    126Loss from Discontinued Operations, net of tax
    
    
    (1
    )
    
    
    (4
    )Cumulative Effect of Accounting Change, net of tax
    
    
    1
    
    
    
    Net Income
    
    $
    136
    
    
    $
    122Basic Earnings per Common ShareIncome from continuing operations
    
    $
    .76
    
    
    $
    .72Discontinued operations
    
    
    
    
    
    
    (.02
    )Cumulative effect of accounting change
    
    
    .01
    
    
    
    Total
    
    $
    .77
    
    
    $
    .70Diluted Earnings per Common ShareIncome from continuing operations
    
    $
    .76
    
    
    $
    .72Discontinued operations
    
    
    
    
    
    
    (.02
    )Cumulative effect of accounting change
    
    
    
    
    
    
    Total
    
    $
    .76
    
    
    $
    .70Average Common SharesBasic
    
    
    177
    
    
    
    174Diluted
    
    
    178
    
    
    
    175Dividends Declared per Common Share
    
    $
    .515
    
    
    $
    .515
 
 (1)
    
    Primarily represents gains on the sale of interests in synfuel projects.(2)
    
    Primarily represents our partners share of synfuel project losses.




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DTE Energy Company  Segment Net Income (Unaudited)
 Three Months Ended March 312006
    
    
    2005Reported
    
    
    
    
    
    
    Operating
    
    
    Reported
    
    
    
    
    
    
    Operating(in Millions)
    
    Earnings
    
    
    Adjustments
    
    
    Earnings
    
    
    Earnings
    
    
    Adjustments
    
    
    EarningsElectric Utility
    
    $
    58
    
    
    $
    8          A
    
    
    $
    66
    
    
    $
    55
    
    
    $
    2          H
    
    
    $
    57Gas Utility
    
    
    50
    
    
    
    2           A
    
    
    
    48
    
    
    
    13
    
    
    
    8           B
    
    
    
    48(4)          B
    
    
    
    
    
    
    
    
    
    
    
    1           H26          INon-utility OperationsPower and Industrial Projects
    
    
    (2
    )
    
    
    1           A
    
    
    
    30
    
    
    
    68
    
    
    
    (3)          J
    
    
    
    65(6)          C26          D11          EUnconventional Gas Production
    
    
    1
    
    
    
    
    
    
    
    1
    
    
    
    1
    
    
    
    
    
    
    
    1Fuel Transportation and Marketing
    
    
    41
    
    
    
    
    
    
    
    41
    
    
    
    (10
    )
    
    
    
    
    
    
    (10
    )40
    
    
    
    32
    
    
    
    72
    
    
    
    59
    
    
    
    (3
    )
    
    
    56Corporate & Other
    
    
    (12
    )
    
    
    (3)          B
    
    
    
    (15
    )
    
    
    (1
    )
    
    
    (6)           B
    
    
    
    (7
    )Income from Continuing Operations
    
    
    136
    
    
    
    35
    
    
    
    171
    
    
    
    126
    
    
    
    28
    
    
    
    154Discontinued Operations
    
    
    (1
    )
    
    
    1           F
    
    
    
    
    
    
    
    (4
    )
    
    
    4           F
    
    
    
    Cumulative effect of accounting
change
    
    
    1
    
    
    
    (1)          G
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Net Income
    
    $
    136
    
    
    $
    35
    
    
    $
    171
    
    
    $
    122
    
    
    $
    32
    
    
    $
    154
 Adjustments keyA) Performance Excellence Process
    
    Costs to achieve savings from Performance Excellence ProcessB) Effective tax rate normalization
    
    Quarterly adjustment to normalize effective tax rate.
Annual results not impactedC) 2007 oil price option
    
    Mark to market on 2007 synfuel oil hedgesD) 2006 oil price option rollback
    
    Mark to market on 2006 synfuel oil hedges recognized in 2005E) Impairment charge
    
    Impairment charge PepTec operationsF) Impairment charge
    
    Impairment charge and operating results relating to the discontinuance of
Dtech operationsG) Cumulative effect of accounting change
    
    Cumulative effect of a change in accounting principle
from adoption of FASB No. 123-RH) DTE2/SAP project costs
    
    Incremental non-recurring DTE2/SAP project costsI) April 2005 MPSC Gas
    
    Impact of disallowances of 2002 gas costs and certain computer systems
and equipment costs.J) 2006 oil price option
    
    Mark to market on 2006 synfuel oil hedges




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##### 



DTE Energy Company  Segment Diluted Earnings Per Share (Unaudited)
 Three Months Ended March 312006
    
    
    2005Reported
    
    
    
    
    
    
    Operating
    
    
    Reported
    
    
    
    
    
    
    Operating(in Millions)
    
    Earnings
    
    
    Adjustments
    
    
    Earnings
    
    
    Earnings
    
    
    Adjustments
    
    
    EarningsElectric Utility
    
    $
    0.33
    
    
    $
    0.04       A
    
    
    $
    0.37
    
    
    $
    0.31
    
    
    $
    0.01       F
    
    
    $
    0.32Gas Utility
    
    
    0.28
    
    
    
    0.01       A
    
    
    
    0.26
    
    
    
    0.07
    
    
    
    0.05       H
    
    
    
    0.28(0.03)      B
    
    
    
    
    
    
    
    
    
    
    
    0.01       F0.15       GNon-utility OperationsPower and Industrial Projects
    
    
    (0.01
    )
    
    
    0.01       A
    
    
    
    0.18
    
    
    
    0.39
    
    
    
    (0.02) H
    
    
    
    0.37(0.03)      C0.15       D0.06       EUnconventional Gas Production
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    0.01
    
    
    
    
    
    
    
    0.01Fuel Transportation and Marketing
    
    
    0.23
    
    
    
    
    
    
    
    0.23
    
    
    
    (0.06
    )
    
    
    
    
    
    
    (0.06
    )0.22
    
    
    
    0.19
    
    
    
    0.41
    
    
    
    0.34
    
    
    
    (0.02
    )
    
    
    0.32Corporate & Other
    
    
    (0.07
    )
    
    
    (0.01)      B
    
    
    
    (0.08
    )
    
    
    
    
    
    
    (0.04)      B
    
    
    
    (0.04
    )Income from Continuing Operations
    
    
    0.76
    
    
    
    0.20
    
    
    
    0.96
    
    
    
    0.72
    
    
    
    0.16
    
    
    
    0.88Discontinued Operations
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (0.02
    )
    
    
    0.02       I
    
    
    
    Cumulative effect of accounting
change
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Net Income
    
    $
    0.76
    
    
    $
    0.20
    
    
    $
    0.96
    
    
    $
    0.70
    
    
    $
    0.18
    
    
    $
    0.88
 Adjustments keyA) Performance Excellence Process
    
    Costs to achieve savings from Performance Excellence ProcessB) Effective tax rate normalization
    
    Quarterly adjustment to normalize effective tax rate.
Annual results not impactedC) 2007 oil price option
    
    Mark to market on 2007 synfuel oil hedgesD) 2006 oil price option rollback
    
    Mark to market on 2006 synfuel oil hedges recognized in 2005E) Impairment charge
    
    Impairment charge PepTec operationsF) DTE2/SAP project costs
    
    Incremental non-recurring DTE2/SAP project costsG) April 2005 MPSC Gas
    
    Impact of disallowances of 2002 gas costs and certain computer systems
and equipment costs.H) 2006 oil price option
    
    Mark to market on 2006 synfuel oil hedgesI) Impairment charge
    
    Impairment charge and operating results relating to the discontinuance of
Dtech operations